gougler08 said:mazag08 said:
Has anyone followed MMP?
Sitting at $40.59, $7 below it's lowest analyst price target.
Pays a dividend of $1.0275 quarterly.. roughly 10% cash on cash at this price. And while options chain is meh, you could sell July $52.5 call for $0.50.
Granted, 4th quarter earnings were down from 2019 due to Covid and oil being down in 2020. So some risk if they don't get back to pre-Covid levels. But if they do, the dividend will likely go even higher.
I'm watching this one. Need to do more research.
Chart looks good if it holds above $40, may be a good play for my 401k with the dividend + still some upside if it can get to pre-Covid numbers at some point
Yeah this would be an IRA play for me.